Dividend Re-investment Plan
YOU MAY JOIN THE PLAN PROVIDED THAT:
YOU ARE NOT RESIDENT IN THE UNITED STATES OF AMERICA (OR ITS TERRITORIES AND POSSESSIONS) OR IN CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN, AND
YOU DO NOT LIVE IN ANY OTHER JURISDICTION OUTSIDE THE UNITED KINGDOM WHERE YOUR PARTICIPATION IN THE PLAN WOULD REQUIRE THE PLAN PROVIDER OR THE BROKER PURCHASING THE SHARES TO COMPLY WITH GOVERNMENTAL OR REGULATORY PROCEDURES OR ANY SIMILAR FORMALITIES.
What is a Dividend Re-investment Plan (DRIP)
This is a plan that allows private shareholders to reinvest cash dividends from their investments cheaply and easily back into Fiberweb plc shares and so obtain the benefits of compounding.
How is the plan managed?
The plan is managed by administrator, Capita IRG Trustees Limited (CIRGT). They are authorised and regulated by the Financial Services Authority.
On the dividend date, shareholders who join the plan are still paid the cash dividend, but CIRGT then uses the cash to buy shares in Fiberweb on behalf of the shareholder. Please note that CIRGT may not offer a DRIP for every dividend paid. If a DRIP is not made available, the shareholder will receive the cash dividend.
What are the benefits to shareholders?
- You can increase your shareholding over the long term;
- Compounding effect of increasing shareholding and dividend payments;
- Offers the protection of a regulated service;
- An alternative for overseas shareholders in qualifying countries who may have difficulty cashing sterling dividend cheques due to high bank charges.
What price will the shares be bought at?
CIRGT instructs its broker to buy shares on the dividend payment at the current market price. Deals are aggregated for all Shareholders. Shareholders will not be aware of the share price when they sign up for the DRIP.
What happens to any cash dividend left over?
Any cash dividend left over which is insufficient to purchase a whole share will be carried forward and held, without interest, in a Client Money bank account.
How much does the Plan cost?
The DRIP commission charged to the Shareholders is one per cent of the purchase price of the shares, with a minimum charge of £2.50. Full details of all costs will be sent to you by CIRGT.
How do Shareholders apply?
Complete a Form of Election available from the Registrars > link to details
Tel: 0871 664 0381 (calls cost 10p per minute plus network extras)
If calling from overseas: +44 208 639 3402.